Multiple Choice
If all resources are used to produce a single output, then:
A) the firm is located on the PPF
B) the firm is located inside of the PPF
C) the firm is located outside of the PPF
D) none of the other answers
Correct Answer:
Verified
Correct Answer:
Verified
Q50: A change in relative prices will affect
Q51: Movements along a Production Possibilities Frontier (curve)
Q52: The PPF is:<br>A) concave to the origin<br>B)
Q53: The Production Possibilities Frontier (curve) represents all
Q54: The opportunity cost of a resource tells
Q56: The MRPS is:<br>A) the rate at that
Q57: Technological change will affect the:<br>A) PPF<br>B) isorevenue
Q58: Technological change in the good located on
Q59: A Production Possibilities Frontier (curve) represents:<br>A) how
Q60: The Marginal Rate of Product Substitution (MRPS)